Sun Communities (SUI) grants performance and restricted stock to CIO

Filing Impact

(Very High)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Weiss Aaron reported acquisition or exercise transactions in this Form 4 filing.

Sun Communities EVP and Chief Investment Officer Aaron Weiss received new equity awards. On March 27, 2026, he was granted 10,321 performance rights, each tied to one share of common stock, and 5,256 shares of restricted stock at $125.57 per share. The restricted stock vests in three equal installments of 1,752 shares on March 27 of 2027, 2028, and 2029, while the performance rights can pay out between 0% and 200% of the target based on three-year total shareholder return and financial performance. Following the restricted stock grant, Weiss directly holds 64,879 common shares.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Weiss Aaron

Role EVP, Chief Investment Officer

Type	Security	Shares	Price	Value
Grant/Award	PERFORMANCE RIGHT	10,321	$0.00	--
Grant/Award	COMMON STOCK, $0.01 PAR VALUE	5,256	$125.57	$660K

Holdings After Transaction: PERFORMANCE RIGHT — 10,321 shares (Direct); COMMON STOCK, $0.01 PAR VALUE — 64,879 shares (Direct)

Footnotes (1)

Restricted stock: all shares are subject to time vesting; 1,752 of these time vesting shares vest on each of March 27, 2027, 2028, and 2029. Each performance right represents a contingent right to receive one share of common stock of Sun Communities, Inc (the "Company"). The target number of shares of common stock is set forth in columns 5 and 7 of Table II. Between 0% and 200% of the target number will be earned based on the achievement of performance criteria related to the Company's total shareholder return relative to industry indices and to certain of the Company's financial results over a three-year performance period. Any shares that do not vest at the end of the performance period will be forfeited.

Key Figures

Performance rights granted: 10,321 performance rights Restricted stock granted: 5,256 shares Grant price for restricted stock: $125.57 per share +3 more

6 metrics

Performance rights granted 10,321 performance rights Grant to Aaron Weiss on March 27, 2026; each right targets one common share

Restricted stock granted 5,256 shares Time-vesting restricted common stock granted March 27, 2026 at $125.57 per share

Grant price for restricted stock $125.57 per share Price per share for 5,256 restricted stock units awarded March 27, 2026

Post-grant common share holdings 64,879 shares Direct common stock holdings of Aaron Weiss after the restricted stock grant

Annual restricted stock vesting tranche 1,752 shares per year Restricted stock vests on March 27 of 2027, 2028, and 2029

Performance right payout range 0%–200% of target Portion of 10,321 performance rights earned based on three-year TSR and financial metrics

Key Terms

performance right, restricted stock, total shareholder return, three-year performance period, +1 more

5 terms

performance right financial

"Each performance right represents a contingent right to receive one share of common stock"

restricted stock financial

"Restricted stock: all shares are subject to time vesting; 1,752 of these time vesting shares vest"

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

total shareholder return financial

"based on the achievement of performance criteria related to the Company's total shareholder return relative to industry indices"

Total shareholder return is the overall gain an investor gets from owning a stock, combining changes in the share price plus any cash payouts like dividends, and assuming those payouts are reinvested in more shares. Investors use it like a single score that shows the true return on their investment—similar to checking both the growth of a savings account and the interest earned—to compare how well different companies or investments perform over time.

three-year performance period financial

"over a three-year performance period. Any shares that do not vest at the end of the performance period"

contingent right financial

"represents a contingent right to receive one share of common stock"

Form 4 Insider Transactions: What Each Field Means →

03/31/2026 - 01:15 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Weiss Aaron

(Last)

(First)

(Middle)

27777 FRANKLIN ROAD

SUITE 300

(Street)

SOUTHFIELD

MICHIGAN

48034

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
SUN COMMUNITIES INC [ SUI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP, Chief Investment Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/27/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
COMMON STOCK, $0.01 PAR VALUE	03/27/2026		A		5,256⁽¹⁾	A	$125.57	64,879	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
PERFORMANCE RIGHT	⁽²⁾	03/27/2026		A		10,321		⁽²⁾	⁽²⁾	COMMON STOCK, $0.01 PAR VALUE	10,321	$0	10,321	D

Explanation of Responses:

1. Restricted stock: all shares are subject to time vesting; 1,752 of these time vesting shares vest on each of March 27, 2027, 2028, and 2029.

2. Each performance right represents a contingent right to receive one share of common stock of Sun Communities, Inc (the "Company"). The target number of shares of common stock is set forth in columns 5 and 7 of Table II. Between 0% and 200% of the target number will be earned based on the achievement of performance criteria related to the Company's total shareholder return relative to industry indices and to certain of the Company's financial results over a three-year performance period. Any shares that do not vest at the end of the performance period will be forfeited.

Remarks:

	/s/ Aaron Weiss	03/31/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did SUI executive Aaron Weiss report in this Form 4?

Aaron Weiss reported equity compensation grants, not open-market trades. He received 10,321 performance rights and 5,256 restricted shares of Sun Communities common stock on March 27, 2026, as part of his executive compensation, with both awards subject to future vesting conditions and performance criteria.

How many Sun Communities (SUI) performance rights were granted to Aaron Weiss?

Aaron Weiss received 10,321 performance rights, each representing a contingent right to one share of Sun Communities common stock. The actual number of shares earned can range from 0% to 200% of this target, depending on three-year total shareholder return and specified financial performance results.

What restricted stock did Aaron Weiss receive from Sun Communities (SUI)?

Weiss was granted 5,256 restricted shares of Sun Communities common stock at $125.57 per share. These time-vesting shares vest in three equal installments of 1,752 shares on March 27, 2027, March 27, 2028, and March 27, 2029, assuming continued service and satisfaction of vesting terms.

How do Aaron Weiss’s Sun Communities (SUI) performance rights vest?

Each performance right can convert into one share of common stock, but only after a three-year performance period. Between 0% and 200% of the 10,321 target rights will vest, based on Sun Communities’ total shareholder return versus industry indices and certain financial metrics.

How many Sun Communities (SUI) shares does Aaron Weiss own after these grants?

After the March 27, 2026 restricted stock award, Aaron Weiss directly holds 64,879 shares of Sun Communities common stock. This figure reflects his position following the 5,256-share grant and shows the size of his existing equity stake as an executive officer.

Are the new Sun Communities (SUI) equity awards to Aaron Weiss open-market purchases?

No. Both the 10,321 performance rights and 5,256 restricted shares are compensation awards coded as acquisitions under transaction code “A.” They were granted by Sun Communities to its executive, not bought on the open market, and are subject to vesting and performance conditions.